Common use of Default by Tenant Remedies Clause in Contracts

Default by Tenant Remedies. Time is of the essence of this Lease. If Tenant violates or breaches or fails to keep or perform any covenant, term or condition of this Lease, and if such default or violation continues for or is not remedied within three (3) (or, if no default in the rent is involved, within ten (10) days after notice in writing thereof given by Landlord to Tenant specifying the matter claimed to be in default, then Landlord shall have the following rights and remedies, at its option which shall not be exclusive, but shall be cumulative and in addition and supplemental to any and all other rights and/or remedies that Landlord may have at law or in equity: (a) to declare the Lease term ended and to reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and take possession of the Premises and remove all persons therefrom, and Tenant shall have no further claim thereon or hereunder and Landlord may recover from Tenant all rent then due or thereafter accruing and such other damages as are caused by Tenant’s default; or (b) without declaring this Lease terminated, to reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and occupy the whole or any part thereof for and on account of Tenant and to collect any unpaid rentals and other charges, which have become payable, or which may thereafter became payable, all without being liable for forcible entry, trespass or other tort; or (c) even though it may have reentered the Premises, to thereafter elect to terminate this Lease and all of the rights of Tenant or to the Premises. If Landlord reenters the Premises under option (b) above, Landlord shall not be deemed to have terminated this Lease or the liability of Tenant to pay any rental or other charges thereafter accruing, or to have terminated Tenant’s liability for damages under any of the provisions hereof, by any such reentry or by any action, in unlawful detainer or otherwise to obtain possession of the Premises, unless Landlord shall have notified Tenant in writing that it has so elected to terminate this Lease. In the event of any entry or taking possession of the Premises, Landlord shall have the right, but not the obligation, to remove therefrom all or any part of the personal property located therein and may place the same in storage at a public warehouse at the expense and risk of Tenant. If Landlord elects to terminate this Lease pursuant to the provisions of options (a) or (c) above, Landlord may recover from Tenant as damages, the following: (i) the worth at the time of award of any unpaid rental which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid rental for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrorn, including but not limited to, any costs or expenses incurred by Landlord in (a) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (b) maintaining or preserving the Premises after such default, (c) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises for such reletting (d) leasing commissions, and (e) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of Washington As used in items (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the interest rate specified in Section 7 hereof. As used in item (iii) above, the “worth at the time of award” is computed by using a discount rate of four percent (4%). For all proposes of this Section 22 only, the term “rental” shall be deemed to be the base rental and all additional rent and other sums required to be paid by Tenant pursuant to the terms of this Lease. Finally, if Tenant vacates or abandons the Premises and fails to reoccupy them within ten (10) days after Landlord (1) delivers a notice to the Premises (which will be unoccupied) demanding such re-occupancy and (2) mails by certified or registered mail a copy of the notice to any forwarding address given by Tenant to Landlord in writing, Tenant shall be in default under this Lease.

Appears in 1 contract

Samples: Lease Guaranty Agreement (iVOW, Inc.)

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Default by Tenant Remedies. Time is The occurrence of one or more of the essence following events shall constitute a default and breach of this Lease. If Lease by Tenant: (a) the vacating or abandonment of the Premises; (b) the failure by Tenant violates to make any payment of rent within five (5) days after such payment falls due; (c) the failure by Tenant to make any other payment required to be made by Tenant hereunder, as and when due, where such failure shall continue for a period of 10 days after notice from Landlord that said payment is due and payable; or breaches or fails (d) the failure by tenant to keep observe or perform any covenantof the covenants, term conditions or condition provisions of this Lease, and if to be observed or performed by the Tenant, other than those described above, where such default or violation continues failure shall continue for or is not remedied within three (3) (or, if no default in the rent is involved, within ten (10) a period of 30 days after written notice in writing thereof given by Landlord to Tenant specifying Tenant. In the matter claimed to be in defaultevent of any default or breach by Tenant, then Landlord shall have the following rights and remedies, at its option which shall not be exclusive, but shall be cumulative and in addition and supplemental to any and all other rights and/or remedies that Landlord may have at law any time, without waiving or in equity: (a) limiting any other right or remedy available to declare the it, terminate Tenant's rights under this Lease term ended and to by written notice or by any lawful means, or reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and take possession of the Premises (with or without terminating this Lease) in which event all Minimum Rent and remove all persons therefrom, Additional Rent due hereunder shall be accelerated and Tenant shall have no further claim thereon or hereunder become immediately due and Landlord may recover from Tenant all rent then due or thereafter accruing and such other damages as are caused by Tenant’s default; or (b) without declaring this Lease terminated, to reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and occupy the whole or any part thereof for and on account of Tenant and to collect any unpaid rentals and other charges, which have become payable, or which may thereafter became payable, all without being liable for forcible entry, trespass itself pay or other tort; or (c) even though it may have reentered perform the Premisesobligation as, to thereafter elect which Tenant is in default (in which event Landlord's cost of so doing shall be immediately reimbursed to terminate this Lease and all of the rights of it by Tenant), or pursue any remedy allowed by law. Tenant or to the Premises. If Landlord reenters the Premises under option (b) above, Landlord shall not be deemed to have terminated this Lease or the liability of Tenant agrees to pay any rental or other charges thereafter accruing, or to have terminated Tenant’s liability for damages under any Landlord the cost of the provisions hereof, by any such reentry or by any action, in unlawful detainer or otherwise to obtain recovering possession of the Premises, unless Landlord shall have notified Tenant in writing that it has so elected to terminate this Leaseall expenses associated with reletting, and any other costs or damages arising out of Tenant's default. In the event of Notwithstanding any re-entry or taking possession of the Premises, Landlord shall have the right, but not the obligation, to remove therefrom all or any part of the personal property located therein and may place the same in storage at a public warehouse at the expense and risk of Tenant. If Landlord elects to terminate this Lease pursuant to the provisions of options (a) or (c) above, Landlord may recover from Tenant as damagestermination, the following: (i) liability of Tenant for the worth at the time of award of any unpaid rental which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid rental Minimum Rent and Additional Rent provided for herein shall not be extinguished for the balance of the term after of this Lease, and Tenant agrees to make good to Landlord any deficiency arising from reletting the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (iv) any Premises at a lesser rent than applies under this Lease. Any rent or other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations charges under this Lease or which in the ordinary course of things would be likely to result therefrorn, including but not limited to, any costs or expenses incurred by Landlord in (a) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (b) maintaining or preserving the Premises after such default, (c) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises for such reletting (d) leasing commissions, and (e) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of Washington As used in items (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the interest rate specified in Section 7 hereof. As used in item (iii) above, the “worth at the time of award” is computed by using a discount rate of four percent (4%). For all proposes of this Section 22 only, the term “rental” shall be deemed to be the base rental and all additional rent and other sums required to be paid by Tenant pursuant to when due shall bear interest from the terms due date thereof at the rate of this Lease. Finallyeighteen percent (18%) per annum or the maximum contract rate allowed by law, if Tenant vacates or abandons the Premises and fails to reoccupy them within ten (10) days after Landlord (1) delivers a notice to the Premises (which will be unoccupied) demanding such re-occupancy and (2) mails by certified or registered mail a copy of the notice to any forwarding address given by Tenant to Landlord in writing, Tenant shall be in default under this Leasewhichever is less.

Appears in 1 contract

Samples: Office Lease (Aristotle International Inc)

Default by Tenant Remedies. Time is A. If (i) default be made in the payment of Rent or any additional charge payable hereunder by Tenant, and such default shall continue for five (5) days after written notice of default, or (ii) default be made in any of the essence other covenants or conditions herein contained on the part of this Lease. If Tenant violates or breaches or fails and such default shall continue for twenty (20) days after written notice thereof shall have been given to keep or perform any covenantTenant, term or condition (except that such 20-day period shall be automatically extended for an additional period of this Leasetime reasonably necessary to cure such default, and if such default cannot be cured within such first 20-day period and provided Tenant commences the process of curing such default within said first 20-day period and continuously and diligently pursues such cure to completion), or violation continues (iii) Tenant shall become insolvent or bankrupt or makes an assignment for the benefit of creditors, or is (iv) a receiver or trustee of Tenant’s property shall be appointed and such receiver or trustee, as the case may be, shall not remedied be discharged within three sixty (3) (or, if no default in the rent is involved, within ten (1060) days after notice in writing thereof given by Landlord to Tenant specifying the matter claimed to be in defaultsuch appointment, then in any such case, Landlord shall have the following rights may, without further notice to Tenant, notice being hereby waived, terminate Tenant’s tenancy and remedies, at its option which shall not be exclusive, but shall be cumulative recover possession of and in addition and supplemental to any and all other rights and/or remedies that Landlord may have at law or in equity: (a) to declare the Lease term ended and to reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and take possession accepting a surrender of the Premises and remove all persons therefrom, and Tenant shall have no further claim thereon or hereunder and Landlord may recover from Tenant all rent then due or thereafter accruing and such other damages as are caused by Tenant’s default; or (b) without declaring this Lease terminated, to reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and occupy the whole or any part thereof for and on account of Tenant and to collect any unpaid rentals and other charges, which have become payable, or which may thereafter became payable, all without being liable for forcible entry, trespass or other tort; or (c) even though it may have reentered the Premises, to thereafter elect to terminate this Lease and all of the rights of Tenant or to the Premises. If Landlord reenters the Premises under option (b) above, Landlord shall not be deemed to have terminated this Lease or the liability of Tenant to pay any rental or other charges thereafter accruing, or to have terminated affecting Tenant’s liability for damages under any of the provisions hereof, by any such reentry past Rent and other charges due or by any action, in unlawful detainer or otherwise future rent and other charges to obtain possession of the Premises, unless Landlord shall have notified Tenant in writing that it has so elected to terminate this Leaseaccrue hereunder. In the event of any entry or taking such default, Landlord shall be entitled to recover from Tenant, in addition to Rent and other charges equivalent to rent, all other damages sustained by Landlord on account of the breach of this Lease, including, but not limited to, the costs, expenses and attorney fees incurred by Landlord in enforcing the terms and provisions hereof and in reentering and recovering possession of the Premises and for the cost of repairs, alterations and brokerage and attorney fees connected with the re-letting of the Premises, but excluding consequential or incidental damages other than out-of-pocket expenses incurred by Landlord and delineated herein. As an alternative, at the election of Landlord, Landlord shall have the rightright to accept a surrender of the Premises (without the need for any affirmative act or acquiescence by Tenant), but not without any further rights or obligations on the obligation, to remove therefrom all or any part of Landlord or Tenant (other than Tenant’s obligation for Rent and other charges due and owing through the personal property located therein and date of acceptance of surrender), so that Landlord may place re-let the same in storage at a public warehouse Premises without any right on the part of Tenant to any credit or payment resulting from any re-letting of the Premises. Alternatively, at the expense and risk option of the Landlord, if Tenant. If Landlord elects to terminate this Lease pursuant to the provisions of options (a) or (c) above’s tenancy is so terminated, Landlord may recover from forthwith against Tenant as damagesdamages for loss of the bargain and not as a penalty an aggregate sum, the following: (i) the worth at the time of award of any unpaid rental which had been earned at the time of such termination; plus (ii) the worth at the time termination of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds Tenant’s tenancy, represents the amount of such rental loss Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award excess, if any, of the amount by which value of the unpaid rental whole balance of Rent, charges and all other sums payable hereunder for the entire balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease herein reserved or which in the ordinary course of things would be likely to result therefrorn, including but not limited to, any costs or expenses incurred by Landlord in (a) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (b) maintaining or preserving the Premises after such default, (c) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises for such reletting (d) leasing commissions, and (e) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of Washington As used in items (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the interest rate specified in Section 7 hereof. As used in item (iii) above, the “worth at the time of award” is computed by using a discount rate of four percent (4%). For all proposes of this Section 22 only, the term “rental” shall be deemed to be the base rental and all additional rent and other sums required agreed to be paid by Tenant pursuant to Tenant, over the terms then current fair market rental value of this Lease. Finally, if Tenant vacates or abandons the Premises and fails to reoccupy them within ten (10) days after Landlord (1) delivers a notice to the Premises (which will including “triple net” charges), such difference to be unoccupieddiscounted to net present value at the rate of eight percent (8%) demanding such re-occupancy and (2) mails by certified or registered mail per annum. In case of a copy of the notice to any forwarding address given by Tenant to Landlord in writing, Tenant shall be in default under this Lease, Landlord may, in addition to terminating Tenant’s tenancy and/or accepting a surrender, or in lieu thereof, pursue such other remedy or combination of remedies and recover such other damages for breach of tenancy and/or contract as available at law or otherwise.

Appears in 1 contract

Samples: Lease Agreement (Novavax Inc)

Default by Tenant Remedies. Time is (a) If Tenant defaults in fulfilling any of the essence of this Lease. If Tenant violates or breaches or fails to keep or perform any covenant, term or condition covenants of this Lease, and or if the Premises becomes vacant or deserted, or if this Lease be rejected under §365 of Title 11 of the U.S. Code (Bankruptcy Code); or if any execution or attachment shall be issued against Tenant or any of Tenant’s property whereupon the Premises shall be taken or occupied by someone other than Tenant; then in any one or more of such default or violation continues for or is not remedied within three (3) (orevents, if no upon Landlord serving a written 10 days notice with respect to a default in the payment of rent is involved, within ten (10) or additional rent or 30 days after notice in writing thereof given by Landlord with respect to any other default notice upon Tenant specifying the matter claimed nature of said default, and upon the expiration of said 10 or 30 days, as the case may be, if Tenant shall have failed to comply with or remedy such default, or if the said default or omission complained of shall be of a nature that the same cannot be completely cured or remedied within said 30 day period (it being intended that a default in the payment of rent or additional rent shall not have the benefit of this extension of the cure period), and if Tenant shall not have diligently commenced during such default within such 30 day period, and shall not thereafter with reasonable diligence and in good faith, proceed to remedy or cure such default, then Landlord may serve a written five (5) days notice of cancellation of this Lease upon Tenant, and upon the expiration of said five (5) days this Lease and the term thereunder shall have end and expire as fully and completely as if the following rights expiration of such five (5) day period were the day herein definitely fixed for the end and remedies, at its option which shall not be exclusive, but shall be cumulative expiration of this Lease and in addition and supplemental to any and all other rights and/or remedies that Landlord may have at law or in equity: (a) to declare the Lease term ended and to reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and take possession of the Premises and remove all persons therefromthereof, and Tenant shall have no further claim thereon or hereunder then quit and Landlord may recover from Tenant all rent then due or thereafter accruing and such other damages as are caused by Tenant’s default; or (b) without declaring this Lease terminated, to reenter surrender the Premises without notice to vacate (any right to which is hereby waived by Tenant) and occupy the whole or any part thereof for and on account of Tenant and to collect any unpaid rentals and other charges, which have become payable, or which may thereafter became payable, all without being liable for forcible entry, trespass or other tort; or (c) even though it may have reentered the Premises, to thereafter elect to terminate this Lease and all of the rights of Tenant or to the Premises. If Landlord reenters the Premises under option (b) above, Landlord shall not be deemed to have terminated this Lease or the liability of Tenant to pay any rental or other charges thereafter accruing, or to have terminated Tenant’s liability for damages under any of the provisions hereof, by any such reentry or by any action, in unlawful detainer or otherwise to obtain possession of the Premises, unless Landlord shall have notified Tenant in writing that it has so elected to terminate this Lease. In the event of any entry or taking possession of the Premises, Landlord shall have the rightLandlord, but not the obligation, to remove therefrom all or any part of the personal property located therein and may place the same in storage at a public warehouse at the expense and risk of Tenant. If Landlord elects to terminate this Lease pursuant to the provisions of options (a) or (c) above, Landlord may recover from Tenant as damages, the following: (i) the worth at the time of award of any unpaid rental which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid rental for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrorn, including but not limited to, any costs or expenses incurred by Landlord in (a) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (b) maintaining or preserving the Premises after such default, (c) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises for such reletting (d) leasing commissions, and (e) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of Washington As used in items (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the interest rate specified in Section 7 hereof. As used in item (iii) above, the “worth at the time of award” is computed by using a discount rate of four percent (4%). For all proposes of this Section 22 only, the term “rental” shall be deemed to be the base rental and all additional rent and other sums required to be paid by Tenant pursuant to the terms of this Lease. Finally, if Tenant vacates or abandons the Premises and fails to reoccupy them within ten (10) days after Landlord (1) delivers a notice to the Premises (which will be unoccupied) demanding such re-occupancy and (2) mails by certified or registered mail a copy of the notice to any forwarding address given by Tenant to Landlord in writing, Tenant shall be in default under this Leaseremain liable as hereinafter provided.

Appears in 1 contract

Samples: Net Lease Agreement (Coach Inc)

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Default by Tenant Remedies. Time is If (i) default shall be made in the payment of the essence of any sum to be paid by Tenant under this Lease. If Tenant violates or breaches or fails to keep or perform any covenant, term or condition of this Lease, Lease and if such default or violation continues shall continue for or is not remedied within three (3) (or, if no default in the rent is involved, within ten (10) days after written notice to Tenant (provided that if Landlord has provided Tenant with two (2) such notices with respect to Base Rental or Tenant’s Additional Rental already during the preceding twelve-month period, then Tenant shall not be entitled to further notice of any such subsequent monetary default during the ensuing twelve-month period and the next such monetary default within any such consecutive twelve-month period shall thus be an automatic default hereunder without any obligation of notice thereof by Landlord to Tenant), or default shall be made in writing the performance of any of the other covenants or conditions which Tenant is required to observe and to perform and such default shall continue for thirty (30) days, provided that if Tenant is not able to cure such default in thirty (30) days, and provided that Tenant is diligently pursuing such cure, then Tenant will have an additional thirty (30) days after written notice thereof given to Tenant, or if the interest of Tenant under this Lease shall be levied on under execution or other legal process, or if any petition shall be filed by or against Tenant to declare Tenant a bankrupt or to delay, reduce, or modify Tenant’s debts or obligations, or if any petition shall be filed or other action taken to reorganize or modify Tenant’s capital structure, or if Tenant shall be declared insolvent according to law, or if any assignment of Tenant’s property shall be made for the benefit of creditors, or if a receiver or trustee is appointed for Tenant or its property, or if Tenant shall be a corporation or limited liability company and Tenant shall cease to exist as a corporation or limited liability company in good standing in the State of its incorporation or formation, or if Tenant shall be a partnership or other entity and Tenant shall be dissolved or otherwise liquidated, or Landlord applies or retains any part of the security held by it hereunder, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit, if applicable, within five (5) days after notice by Landlord to Tenant specifying stating the matter claimed to be in defaultamount applied or retained, then Landlord shall may treat the occurrence of any one or more of the foregoing events as a breach and default of this Lease and, thereupon, at Landlord’s option, Landlord may have and enforce any one or more of the following rights and described remedies, at its option which shall not be exclusive, but shall be cumulative and in addition and supplemental to any and all other rights and/or and remedies that Landlord may have provided at law or in equity: (a) to declare the Lease term ended and to reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and take possession of the Premises and remove all persons therefrom, and Tenant shall have no further claim thereon or hereunder and Landlord may recover from Tenant all rent then due or thereafter accruing and such other damages as are caused by Tenant’s default; or (b) without declaring this Lease terminated, to reenter the Premises without notice to vacate (any right to which is hereby waived by Tenant) and occupy the whole or any part thereof for and on account of Tenant and to collect any unpaid rentals and other charges, which have become payable, or which may thereafter became payable, all without being liable for forcible entry, trespass or other tort; or (c) even though it may have reentered the Premises, to thereafter elect to terminate this Lease and all of the rights of Tenant or to the Premises. If Landlord reenters the Premises under option (b) above, Landlord shall not be deemed to have terminated this Lease or the liability of Tenant to pay any rental or other charges thereafter accruing, or to have terminated Tenant’s liability for damages under any of the provisions hereof, by any such reentry or by any action, in unlawful detainer or otherwise to obtain possession of the Premises, unless Landlord shall have notified Tenant in writing that it has so elected to terminate this Lease. In the event of any entry or taking possession of the Premises, Landlord shall have the right, but not the obligation, to remove therefrom all or any part of the personal property located therein and may place the same in storage at a public warehouse at the expense and risk of Tenant. If Landlord elects to terminate this Lease pursuant to the provisions of options (a) or (c) above, Landlord may recover from Tenant as damages, the following: (i) the worth at the time of award of any unpaid rental which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid rental for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrorn, including but not limited to, any costs or expenses incurred by Landlord in (a) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (b) maintaining or preserving the Premises after such default, (c) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises for such reletting (d) leasing commissions, and (e) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of Washington As used in items (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the interest rate specified in Section 7 hereof. As used in item (iii) above, the “worth at the time of award” is computed by using a discount rate of four percent (4%). For all proposes of this Section 22 only, the term “rental” shall be deemed to be the base rental and all additional rent and other sums required to be paid by Tenant pursuant to the terms of this Lease. Finally, if Tenant vacates or abandons the Premises and fails to reoccupy them within ten (10) days after Landlord (1) delivers a notice to the Premises (which will be unoccupied) demanding such re-occupancy and (2) mails by certified or registered mail a copy of the notice to any forwarding address given by Tenant to Landlord in writing, Tenant shall be in default under this Lease.:

Appears in 1 contract

Samples: Office Lease Agreement (PROS Holdings, Inc.)

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